Meiji Yasuda Life Insurance Co Invests $345,000 in Maxim Integrated Products Inc. (NASDAQ:MXIM)

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Meiji Yasuda Life Insurance Co purchased a new position in Maxim Integrated Products Inc. (NASDAQ:MXIM) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 6,480 shares of the semiconductor company’s stock, valued at approximately $345,000.

Several other hedge funds have also bought and sold shares of MXIM. Quadrant Capital Group LLC increased its position in Maxim Integrated Products by 328.1% during the first quarter. Quadrant Capital Group LLC now owns 488 shares of the semiconductor company’s stock valued at $25,000 after acquiring an additional 374 shares during the last quarter. First Personal Financial Services increased its stake in Maxim Integrated Products by 76.9% during the 1st quarter. First Personal Financial Services now owns 683 shares of the semiconductor company’s stock worth $36,000 after buying an additional 297 shares in the last quarter. Sun Life Financial INC purchased a new stake in Maxim Integrated Products during the 4th quarter worth approximately $39,000. Guardian Life Insurance Co. of America purchased a new stake in Maxim Integrated Products during the 4th quarter worth approximately $40,000. Finally, CWM LLC increased its stake in Maxim Integrated Products by 38.5% during the 1st quarter. CWM LLC now owns 828 shares of the semiconductor company’s stock worth $44,000 after buying an additional 230 shares in the last quarter. Hedge funds and other institutional investors own 93.40% of the company’s stock.

In related news, VP Vivek Jain sold 14,246 shares of the company’s stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $60.58, for a total value of $863,022.68. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Tunc Doluca sold 7,000 shares of the company’s stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $60.31, for a total value of $422,170.00. The disclosure for this sale can be found here. Insiders sold 57,746 shares of company stock worth $3,400,293 over the last quarter. 0.85% of the stock is currently owned by insiders.

Several equities research analysts have commented on MXIM shares. ValuEngine upgraded Maxim Integrated Products from a “hold” rating to a “buy” rating in a research note on Wednesday, May 1st. Deutsche Bank boosted their price objective on Maxim Integrated Products from $60.00 to $65.00 and gave the stock a “buy” rating in a research note on Wednesday, May 1st. Maxim Group reiterated a “buy” rating and set a $70.00 price objective on shares of Maxim Integrated Products in a research note on Wednesday, May 1st. Barclays boosted their target price on Maxim Integrated Products from $58.00 to $60.00 and gave the stock an “equal weight” rating in a report on Wednesday, May 1st. Finally, BidaskClub upgraded Maxim Integrated Products from a “sell” rating to a “hold” rating in a report on Thursday, April 4th. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating and five have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $61.83.

Shares of Maxim Integrated Products stock opened at $56.05 on Friday. The company has a market cap of $15.83 billion, a PE ratio of 20.68, a P/E/G ratio of 2.03 and a beta of 1.38. Maxim Integrated Products Inc. has a 1-year low of $46.64 and a 1-year high of $63.68. The company has a debt-to-equity ratio of 0.60, a quick ratio of 5.77 and a current ratio of 6.46.

Maxim Integrated Products (NASDAQ:MXIM) last issued its earnings results on Tuesday, April 30th. The semiconductor company reported $0.52 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.52. The business had revenue of $542.38 million for the quarter, compared to analysts’ expectations of $540.17 million. Maxim Integrated Products had a return on equity of 40.16% and a net margin of 27.36%. The business’s revenue for the quarter was down 16.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.73 EPS. As a group, analysts expect that Maxim Integrated Products Inc. will post 2.44 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 14th. Investors of record on Thursday, May 30th were issued a $0.46 dividend. This represents a $1.84 dividend on an annualized basis and a yield of 3.28%. The ex-dividend date was Wednesday, May 29th. Maxim Integrated Products’s dividend payout ratio is presently 67.90%.

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Maxim Integrated Products Company Profile

Maxim Integrated Products, Inc designs, develops, manufactures, and markets a range of linear and mixed-signal integrated circuits in the United States, China, the rest of Asia, Europe, and internationally. The company also provides a range of high-frequency process technologies and capabilities for use in custom designs.

See Also: How to execute a trade ex-dividend strategy?

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Institutional Ownership by Quarter for Maxim Integrated Products (NASDAQ:MXIM)

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